Alkami Technology, Inc. Stock Forecast
Alkami Technology, Inc. stock upgraded to Strong Buy Candidate.
(Updated on May 17, 2024)
The Alkami Technology, Inc. stock price gained 4.02% on the last trading day (Friday, 17th May 2024), rising from $26.64 to $27.71. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.24% from a day low at $26.45 to a day high of $27.84. The price has fallen in 6 of the last 10 days but is still up by 1.39% over the past 2 weeks. Volume fell on the last day by -59 thousand shares and in total, 774 thousand shares were bought and sold for approximately $21.45 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $27.83 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 5.97% during the next 3 months and, with a 90% probability hold a price between $25.38 and $29.49 at the end of this 3-month period.
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ALKT Signals & Forecast
Mostly positive signals in the chart today. The Alkami Technology, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $26.19 and $24.82. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 14, 2024, and so far it has risen 10.44%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Friday, April 19, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Friday, April 19, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
A buy signal from a double bottom formation was found on Thursday, April 04, 2024 with a target of $24.96. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Alkami Technology, Inc. stock
Alkami Technology, Inc. finds support from accumulated volume at $26.69 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.39 between high and low, or 5.24%. For the last week, the stock has had daily average volatility of 4.25%.
Our recommended stop-loss: $26.85 (-3.12%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (ALKT) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Alkami Technology, Inc. to open at $27.33, and during the day (based on 14 day Average True Range), to move between $26.70 and $28.72, which gives a possible trading interval of +/-$1.01 (+/-3.65%) up or down from last closing price. If Alkami Technology, Inc. takes out the full calculated possible swing range there will be an estimated 7.31% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $26.69, some $1.02 (3.68%) from the current price of $27.71, our system finds the risk reward attractive.
Is Alkami Technology, Inc. stock A Buy?
Alkami Technology, Inc. holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.250 Strong Buy Candidate Upgraded
Predicted Opening Price for Alkami Technology, Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $27.33 ( 1.35%) | $27.71 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALKT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.72 | 3.65 % | |
| R2 | 28.19 | 1.74 % | ||
| R1 | 27.86 | 0.556 % | ||
| Current price: | 27.71 | |||
| Support | S1 | 26.81 | -3.27 % | |
| S2 | 26.48 | -4.45 % | ||
| S3 | 25.95 | -6.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 27.71 | |||
| Support | S1 | 26.69 | -3.68% | |
| S2 | 26.64 | -3.86% | ||
| S3 | 24.95 | -9.96% |
FAQ
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